Seoul: Renault Korea Motors Co., the South Korean arm of Renault S.A., announced on Tuesday that its sales for February experienced an 11.3 percent decline compared to the same month last year, largely due to a plant upgrade impacting production output.
According to Yonhap News Agency, Renault Korea reported sales of 6,099 vehicles last month, down from 6,877 units in February of the previous year. Despite this overall decline, domestic sales saw a significant increase of 170 percent year-on-year, reaching 4,881 units. However, exports saw a sharp drop of 76 percent, totaling only 1,218 units.
Renault Korea attributed the sales dip to decreased production as a result of ongoing upgrades at its Busan plant, located approximately 320 kilometers southeast of Seoul. These upgrades are part of the company's strategic shift towards establishing an electric vehicle (EV) production facility.
During the period of plant enhancement, the company focused its production efforts on domestic demand, which led to a reorganization of its export schedules. This strategic decision was reflected in the domestic market's strong performance, with the Grand Koleos, a midsize sport utility vehicle (SUV), leading sales at 4,106 units, followed by the QM6 with 454 units. In the export segment, the Arkana recorded sales of 1,029 units, while the QM6 SUV contributed 188 units to the total export figures.